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593 Broadway

Kislak Acquires Mixed-Use Property In Long Branch For $1.4M
SOLDMixed-use

Kislak Acquires Mixed-Use Property In Long Branch For $1.4M

593 Broadway

$1,400,000

$350/SF

Building Size

4,000 SF

Asset Type

Mixed-use

Closing

Jan 17, 2023

AI

This recent sale in Long Branch involved a mixed-use property located at 593 Broadway. The property consists of five residential units and 4,000 square feet of retail space. The transaction took place on 01/17/2023 with a sale price of $1,400,000. The price per square foot was calculated at $350.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,400,000

The brokers involved in this deal were Daniel Lanni from Kislak representing the parties. It is worth noting that the property comprises both residential and retail components, providing a mixed-use investment opportunity.

Players

Daniel Lanni

Kislak

Broker

$182.6M

vol

36 deals

Broker
Eddy Salameh

Eddy Salameh

Chai Urgent Care

Buyer

$1.4M

vol

15 deals

Buyer

Long Branch Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93